The Greek issue is the main focus these days. Yesterday’s downswing of EURUSD hits that investors are increasingly concerned about the situation and are unwilling to get risky.
Greek mass media report that 75-80% of private bondholder will eventually participate in the bond swap. However, the official stats look less reassuring – only 20%. Greece is on the verge of default. If by the end of March 8th Greece fails to involve 75% of the bondholders in the bond swap, Athens will have to announce a default.
In the meantime, the eurozone and the entire world are estimating possible losses. If Greece does default on its debt, this will cost Europe at least €1 trillion.
According to the expert team of , yesterday’s decline of the 6E futures (EURUSD) was suspended by stop volume (candle 1), with a further break below the local low. At this point the price is recovering. The closest level of support is 1.3100.
